Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%
Price spread now: Hyperliquid against Lighter+0.031%7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days−0.038%−$4 on $10k
+Price spread, last 7 days−0.084%−$8 · spread now +0.031%, 7d avg +0.001%
=Together, before fees−0.122%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.031% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PAXG | 4,355.1 | 0.0096 | pay 0.0012% / 1h | 29m 14s | $1.4M | $270K | 25x |
| Short | Hyperliquid PAXG | 4,356.5 | 0.0100 | get 0.0013% / 1h | 29m 14s | $20.4M | $1.9M | 10x |
Lighter PAXG
Hyperliquid PAXGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.84
- Price spread: +0.031% → +0.001%
- $3.06
- Slippage, 4 orders
- −$4.76
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$9.86
- Costs to cover
- 0.138%
- Break-even
- 89.2 days
Slippage from Lighter: live order book, 2 min ago; Hyperliquid: live order book, 4 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Lighter live order book, 2 min ago | 1.16 bp | 1.5 bp −$2 | 3.6 bp −$36 | 19.4 bp −$1,935 | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.12 bp | 5.0 bp −$5 | 6.9 bp −$69 | doesn't fit | doesn't fit |
PAXG on 29 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PAXG/USDC PERP | −0.0007% | 1h | 4,347.3 | −0.180% | $1K | $151K | 30x | as long as short |
| dYdX PAXG-USD | 0.0000% | 1h | 4,358.3 | +0.073% | $102K | $12K | 5x | as long as short |
| Gate PAXG_USDT | 0.0000% | 8h | 4,357.5 | +0.054% | $15.8M | $3.6M | 100x | as long as short |
| SunX PAXG-USDT | 0.0000% | 4h | 4,351.6 | −0.081% | $2K | $3.9M | 20x | as long as short |
| Deribit PAXG_USDC-PERPETUAL | 0.0000% | 1h | 4,359.6 | +0.103% | $7.9M | $866K | 50x | as long as short |
| HTX PAXG-USDT | 0.0000% | 4h | 4,360.1 | +0.113% | $910K | $639K | 75x | as long as short |
| Lighter PAXGlong | +0.0096% | 1h | 4,355.1 | long leg | $1.4M | $270K | 25x | |
| Paradex PAXG-USD-PERP | +0.0100% | 8h | 4,355.1 | −0.002% | $80K | $3.7M | 50x | as long as short |
| Hyperliquid PAXGshort | +0.0100% | 1h | 4,356.5 | +0.031% | $20.4M | $1.9M | 10x | |
| Aster PAXGUSDT | +0.0100% | 4h | 4,356.7 | +0.036% | $909K | $30K | 50x | as long as short |
Injective PAXG/USDC PERP
dYdX PAXG-USD
Gate PAXG_USDT
SunX PAXG-USDT
Deribit PAXG_USDC-PERPETUAL
HTX PAXG-USDT
Paradex PAXG-USD-PERP
Aster PAXGUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica PAXG | +0.0100% | 1h | 4,356.4 | +0.028% | $1.0M | $339K | 10x | as long as short |
| Binance PAXGUSDT | +0.0100% | 4h | 4,356 | +0.020% | $79.9M | $68.8M | 75x | as long as short |
| Bybit PAXGUSDT | +0.0100% | 4h | 4,357.1 | +0.046% | $15.2M | $3.6M | 75x | as long as short |
| MEXC PAXG_USDT | +0.0100% | 4h | 4,356.2 | +0.025% | $16.1M | $1.2M | 100x | as long as short |
| KuCoin PAXGUSDTM | +0.0100% | 4h | 4,358.3 | +0.072% | $27.3M | $5.4M | 30x | as long as short |
| Bitget PAXGUSDT | +0.0100% | 4h | 4,357 | +0.043% | $9.9M | $14.2M | 50x | as long as short |
| BingX PAXG-USDT | +0.0100% | 4h | 4,356.5 | +0.032% | — | $6.8M | — | as long as short |
| Backpack PAXG_USDC_PERP | +0.0100% | 1h | 4,357.4 | +0.051% | $1.4M | $971K | 50x | as long as short |
| Variational Omni PAXG | +0.0100% | 4h | 4,356.4 | +0.030% | $12.5M | $102K | — | as long as short |
| GRVT PAXG_USDT_Perp | +0.0100% | 4h | 4,355 | −0.004% | $1.5M | $2.0M | 10x | as long as short |
| ApeX Omni PAXGUSDT | +0.0100% | 1h | 4,352.9 | −0.051% | $263K | $794K | 50x | as long as short |
| Orderly PERP_PAXG_USDC_mythos | +0.0100% | 4h | 4,355.5 | +0.008% | $559 | — | 10x | as long as short |
| Phemex PAXGUSDT | +0.0100% | 4h | 4,353 | −0.049% | $1.5M | $38K | 50x | as long as short |
| Extended PAXG-USD | +0.0104% | 1h | 4,355.2 | +0.002% | $378K | $1.2M | 25x | as long as short |
| Hibachi PAXG/USDT-P | +0.0152% | 1h | 4,355.9 | +0.017% | $48K | $141K | 20x | as long as short |
| Reya PAXGRUSDPERP | +0.0189% | 1h | 4,356.4 | +0.028% | $21K | — | 100x | as long as short |
| Kraken Futures PF_PAXGUSD | +0.0286% | 1h | 4,357.4 | +0.052% | $1.3M | $1.4M | 20x | as long as short |
| Coinbase International PAXG-PERP-INTX | +0.0296% | 1h | 4,361.4 | +0.145% | $976K | $1.1M | 50x | as long as short |
| 01 Exchange PAXGUSD | +0.0992% | 1h | 4,366.7 | +0.265% | $29K | $23K | 10x | as long as short |
Pacifica PAXG
Binance PAXGUSDT
Bybit PAXGUSDT
MEXC PAXG_USDT
KuCoin PAXGUSDTM
Bitget PAXGUSDT
BingX PAXG-USDT
Backpack PAXG_USDC_PERP
Variational Omni PAXG
GRVT PAXG_USDT_Perp
ApeX Omni PAXGUSDT
Orderly PERP_PAXG_USDC_mythos
Phemex PAXGUSDT
Extended PAXG-USD
Hibachi PAXG/USDT-P
Reya PAXGRUSDPERP
Kraken Futures PF_PAXGUSD
Coinbase International PAXG-PERP-INTX
01 Exchange PAXGUSD